Business
Tony Elumelu Foundation announces 3rd round of TEF entrepreneurship programme
On January 1, 2017, The Tony Elumelu Foundation (TEF) will begin accepting applications for the third round of the TEF Entrepreneurship Programme. The Programme is the Foundation’s 10-year, US$100 million commitment to training, mentoring and funding 10,000 African entrepreneurs.
The application portal will be open until midnight (WAT), March 1, 2017. Entrepreneurs must complete the online application and selection is on a rolling basis, so early application is encouraged.
TEF Founder Tony O. Elumelu said: “I believe the seeds we are planting through the Programme will transform Africa. Two years on, it is clear that we have found a key to unlocking Africa’s potential for economic transformation. As ourentrepreneurs grow their own businesses and realise theirambitions, so too does the vision. We are showing what the African private sector can achieve; how hard work and enterprise can catalyze real, sustainable development.”
The Programme is designed to identify entrepreneurs that have the potential to grow their businesses and collectively generate 1,000,000 new jobs, that can contribute at least $10 billion in additional revenues to the African economy.
According to TEF CEO, Parminder Vir OBE, “This programme continues to surpass our expectations and its success is palpable. Your entrepreneurial journey begins when you make the decision to complete the application. We are seeking real entrepreneurs, people who can take risk and reap rewards, not just for themselves, but their communities and countries.”
The success of 2015 Tony Elumelu Entrepreneurs reflects the impact of the Programme, including:
- Momar Mass-Taal(Agriculture, Gambia) turned his $5,000 seed capital into $1.2 million in revenue
- Bukhary Kibonajoro(Education & Training, Tanzania) used the mentorship and training to launch his business, create 34 new jobs and provide growth services for more than 100 local business in 12 months.
- Chioma Okonu(Waste Management, Nigeria) Has created ancillary revenue streams for more than 6,000 households, created 40 jobs and generates over $50,000 in profit.
To be eligible to apply:
- Businesses must be based in Africa
- Businesses must be for profit
- Applicants must be 18 years of age and above
- Applicants must be a legal resident or citizen of African countries
1,000 entrepreneurs will be selected based on the feasibility of the business idea; market opportunity; financial understanding; scalability; leadership and entrepreneurial skills demonstrated in the application.
For more information or to apply, visit: http://tonyelumelufoundation.org/teep/faqs/
Media enquiries: [email protected]
About The Tony Elumelu Foundation
Established in 2010, The Tony Elumelu Foundation (TEF) is the leading philanthropy in Africa championing entrepreneurship and entrepreneurs across the continent. The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent. The Foundation’s flagship initiative, the TEF Entrepreneurship Programme, is a 10-year, $100 million commitment to identify, train mentor and fund 10,000 entrepreneurs, capable of changing the face of business across Africa. www.tonyelumelufoundation.org/teep @tonyelumeluFDN
FirstBank Partners Eko Hotels & KEY Academy for ChessMasters 2026 Tournament
Lagos, 30 March 2025 – FirstBank, West Africa’s premier financial institution and the leading financial inclusion service provider, has announced its strategic sponsorship of the second edition of ChessMasters, Africa’s largest school chess tournament. The announcement was made at the official press conference of the tournament held on 16 March 2026 at Eko Hotels and Suites, Lagos.
ChessMasters is an annual chess tournament designed to equip the next generation with critical thinking, problem-solving, and leadership skills. The competition targets children in primary school aged between 6 and 11 years old. Organised by Eko Hotels and Suites & KEY Academy , ChessMasters was created to provide thousands of children across Nigeria with opportunities to develop modern educational skills, bringing schools together on a national stage.
Speaking at the press conference, Olayinka Ijabiyi, Acting Group Head, Marketing & Corporate Communications at FirstBank, said, “Our sponsorship of ChessMasters 2026 reflects our commitment to building talents and communities, driving inclusion, and deepening engagement through our First@Sports initiative, a platform that celebrates talent and promotes social impact through sports. With over a century of supporting legacy sports in Nigeria, we are proud of our enduring partnerships – 105 years with the Georgian Cup, 65 years with the Lagos Amateur Golf Championship and 35 years with the Dala Hard Court Tennis Championship.”
Ijabiyi further highlighted how the sponsorship aligns with FirstBank’s sustainability pillars of Education, Health, and Welfare. “We recognise the potential of chess to help school-age children challenge themselves, think critically, and compete at the highest level, hence we see the tournament as a launchpad for a pan-African movement leveraging chess as a tool for education, empowerment, and leadership development. We are utilising this platform as another avenue to promote social impact and drive positive change in the community.”
Caline Chagoury Moudabar, Director and Co- Founder of ChessMasters and her partner Damilola Okonkwo of Key Academy, expressed appreciation for FirstBank’s support, noting that the partnership will help scale the impact of ChessMasters and inspire more schools to participate. “We are happy to welcome FirstBank on board. This collaboration will boost chess development in Nigeria and promote critical thinking among young minds. With support from partners like FirstBank, we are opening the doors of participation to more children and more schools in this year’s edition.”
Prince Adeyinka Adewole, Vice President of the Nigeria Chess Federation, commended the initiative, emphasising its role in nurturing future chess talents. “Chess connects people, ideas, and opportunities. It teaches children to be analytical, patient, and manage their time and resources effectively. Chess also improves concentration and has been particularly beneficial for children with autism.”
The second edition of ChessMasters will be held on Saturday, 2 May 2026 at Eko Hotels and Suites, Lagos. The competition is open to 150 schools across Lagos, with over 700 students expected to participate and vie for a total prize pool of N10 million.
FirstBank’s involvement in the 2026 edition of the tournament reinforces the potential of ChessMasters to become a launchpad for African children, leveraging chess as a tool for education, empowerment, and leadership development.
Business
Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning
Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning
Alpha Morgan Bank has reaffirmed its commitment to education and institutional development through its support for the commissioning of the Redeemer’s University Business School.
The Business School was officially inaugurated by Pastor (Mrs.) Folu Adeboye, at the commissioning ceremony attended by distinguished guests including Her Excellency, Mrs. Bola Obasanjo; the Pro-Chancellor and Chairman, Governing Council of Redeemers University, Professor Oluwatoyin Ogundipe; the Vice Chancellor, Professor Shadrach Olufemi Akindele; and other notable dignitaries.
Speaking at the event, the Managing Director of Alpha Morgan Bank reiterated the Bank’s commitment to supporting institutions that drive intellectual growth and national development.
As part of its broader focus on knowledge sharing and thought leadership, Alpha Morgan Bank will host its Economic Review Webinar in May 2026, bringing together experts to share insights on key economic trends and opportunities.
The Bank’s involvement reflects its continued dedication to empowering institutions and shaping the future of business and leadership in Nigeria.
Read more about Alpha Morgan Bank on www.alphamorganbank.com
PHOTO
L-R: Prof. Shadrach Olufemi Akindele, Vice Chancellor, Redeemers University, Engr. Eloka Eje, Dr Perez Araka, Pastor (Mrs) Folu Adeboye, Mother-In-Israel, The Redeemed Christian Church of God, Mr Ade Buraimo, MD/CEO Alpha Morgan Bank, Dr (Mrs) Oluwatomi Somefun, Dr. Simeon Ifere, at the inauguration of the Redeemer’s University Business School, Redemption City, Ogun State on Thursday 2nd April, 2026
Tinubu Aide Rebuts Rufai Oseni Over ₦3.3tn Power Debt Deal
- Sheraton Nouakchott marks the entry of Marriott International in Mauritania April 10, 2026
- Eritrea: Seminar to Nationals in Nairobi and Its Environs April 10, 2026
- African financial institutions call for coordinated financing solutions to unlock Africa’s digital transformation April 9, 2026
- African Energy Chamber (AEC) Supports Perenco Partnership to Advance Industry 4.0 Skills in Central Africa April 9, 2026
- Youth Charter Calls for “Commonwealth Youth Legacy” Ahead of Glasgow 2026 April 9, 2026
- Securing the bridge between legacy and smart April 9, 2026
- Africa’s Lithium Pipeline Gains Momentum as Global Supply Deficits Loom April 9, 2026
- Afreximbank delivers strong FY2025 results; with a total assets and contingencies base of US$48.5 billion April 9, 2026
- National Council for Curriculum Development (NCDC) seeks Shs17 Billion for curriculum review, teacher training April 9, 2026
- Senegal: A Decade of Unresolved Climate Displacement April 9, 2026
- Sheraton Nouakchott marks the entry of Marriott International in Mauritania April 10, 2026
- Eritrea: Seminar to Nationals in Nairobi and Its Environs April 10, 2026
- African financial institutions call for coordinated financing solutions to unlock Africa’s digital transformation April 9, 2026
- African Energy Chamber (AEC) Supports Perenco Partnership to Advance Industry 4.0 Skills in Central Africa April 9, 2026
- Youth Charter Calls for “Commonwealth Youth Legacy” Ahead of Glasgow 2026 April 9, 2026
- Securing the bridge between legacy and smart April 9, 2026
- Africa’s Lithium Pipeline Gains Momentum as Global Supply Deficits Loom April 9, 2026
-
news4 months agoWHO REALLY OWNS MONIEPOINT? The $290 Million Deal That Sold Nigeria’s Top Fintech to Foreign Interests
-
society7 months ago“You Are Never Without Help” – Pastor Gebhardt Berndt Inspires Hope Through Empower Church (Video)
-
celebrity radar - gossips2 months agoDr. Chris Okafor Returns with Power and Fire of the Spirit -Mounts Grace Nation Altar with Fresh Anointing and Restoration Grace on February 1, 2026
-
celebrity radar - gossips4 months agoProphet Kingsley Aitafo Releases 2026 Prophecy: ‘Nigeria Will Rise, but the World Must Prepare for Turbulence’
You must be logged in to post a comment Login
You must log in to post a comment.